How and Why The Lean Startup is Becoming the Standard for Hockey Stick Growth : Under30CEO How and Why The Lean Startup is Becoming the Standard for Hockey Stick Growth : Under30CEO
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How and Why The Lean Startup is Becoming the Standard for Hockey Stick Growth

| December 5, 2011 | 8 Comments

 

There is a movement going on in Silicon Valley and beyond.  It has captured the cover of Inc Magazine, The New York Times Best Seller List, conferences and meetups everywhere.  The Lean Startup by Eric Ries explains How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses.  

Eric is the co-founder of IMVU, the world’s largest 3d chat community, but it wasn’t always this way.  Learning from his own mistakes chronicled in his blog, his team formulated a methodology that is changing the world of startups.  Eric makes statements like “failure is preventable”, “don’t launch” and urges entrepreneurs to stop using “vanity metrics”.  If you don’t know the difference between your product launch and your marketing launch, have a handle on your “innovation accounting” or understand the process of “validated learning” take a listen to the interview below and check out the book

Interview questions:

1. Tell us about the bubble and when is it coming in the tech industry?

2. Tell us about your own mistakes as a dorm room entrepreneur growing IMVU that led you to develop The Lean Startup methodology.

3. Why is the minimum viable product useful and why should you test it?

4. Tell us why you say “Don’t Launch!”

5. Once you have your minimum viable product, how does it apply from the investor standpoint when you go to scale your business.

6. By the end of an incubator program like Techstars are you supposed to have your minimum viable product done so you can raise money?

7. What is your grand vision for The Lean Startup movement?

8. Are you looking at the Lean Startup as a revenue generating project or are you just looking to drive change?

Interview conducted by Matt Wilson co-founder of Under30CEO and is looking to help every entrepreneur on the planet.  Connect with him on Twitter @MattWilsontv.

About the Author: Matt Wilson

Matt Wilson is co-founder of Under30CEO. Wilson’s passion for entrepreneurship began after leading Bryant University to becoming the world’s #1 entrepreneurs’ organization. After seven months abroad, Matt's official title became Adventurer in Residence, heading up Under30Media's travel company Under30Experiences. If Matt is around he will be easy to spot as his long luxurious hair is generally flowing freely in the breeze.

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Category: Entrepreneur Interviews

  • http://benjaminlang.com Ben Lang

    Great interview Matt!

  • http://thepeachdesign.com Peachanan Rojwongsuriya

    Nice interview. I’ve read his book too. Very informative with real examples. Great interview by the way. :)

  • http://www.i95dev.com Henry Louis

    It is very interesting to watch this interview. I came to know some important points by watching this video. Thanks for sharing.

  • http://under30ceo.com MattWilsontv

    Thanks guys!! 

  • Pingback: Eric Ries Interview about The Lean Startup « Angelo M Spencer-Smith

  • http://diamondcinema.ning.com/ Christi

    For the “do not launch” strategy, I agree and disagree. Having a launch is a great “part” of the marketing plan. You can have a product launch first, on a limited access basis, if you want to continue to further develop and establish your product before doing your marketing launch. I am not against launching..I say “celebrate” your product, get people excited and involved..but only see it as part of your plan. You should definitely put out a quality product that you know your target audience will like, but also look at your product as continuously developing and improving. It will not be perfect, even after you have waited for a period of time to establish your product before doing your marketing launch. 

    I personally enjoy marketing my company’s product, which includes using a launch event tied into the product’s debut. It is fun, it adds excitement, and people/consumers love excitement. A marketing launch feeds on the needs of people to be “involved” in something cool…be involved in an event and be part of something special. Don’t look at the launch as the magic bullet, but look at it as a marketing strategy you CAN use early on in your product’s debut to get your target market involved early in what you are doing and to get excited about it. Marketing is half of the name of the game. 

    Many people understand that when you first launch a product, your product may not be perfect….even Apple products are continuously developing and being perfected, but we love Apple products either way..even with the bugs. We get excited when a new Apple product comes out..and they are making a lot of money. 

  • http://diamondcinema.ning.com/ Christi

    For the “do not launch” strategy, I agree and disagree. Having a launch is a great “part” of the marketing plan. You can have a product launch first, on a limited access basis, if you want to continue to further develop and establish your product before doing your marketing launch. I am not against launching..I say “celebrate” your product, get people excited and involved..but only see it as part of your plan. You should definitely put out a quality product that you know your target audience will like, but also look at your product as continuously developing and improving. It will not be perfect, even after you have waited for a period of time to establish your product before doing your marketing launch. 

    I personally enjoy marketing my company’s product, which includes using a launch event tied into the product’s debut. It is fun, it adds excitement, and people/consumers love excitement. A marketing launch feeds on the needs of people to be “involved” in something cool…be involved in an event and be part of something special. Don’t look at the launch as the magic bullet, but look at it as a marketing strategy you CAN use early on in your product’s debut to get your target market involved early in what you are doing and to get excited about it. Marketing is half of the name of the game. 

    Many people understand that when you first launch a product, your product may not be perfect….even Apple products are continuously developing and being perfected, but we love Apple products either way..even with the bugs. We get excited when a new Apple product comes out..and they are making a lot of money. 

  • Anonymous

    Go to page 102 in this issue.  There is another under 30 CEO who is female.

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